CHELSEA FC face going bust after owner Roman Abramovich was hit by crippling sanctions yesterday.
The world club champions were banned from selling players or tickets, and their TV money was frozen.
Chelsea could go bust after crippling curbs were imposed on Russian owner Roman AbramovichThe official sanctions listing accused Abramovich of getting ‘financial or other material benefit’ from Russia and through his ties to close pal President Vladimir Putin
Sponsor Three suspended its £40million-a-year shirts deal as fans told of their devastation at the Government crackdown.
Foreign Secretary Liz Truss said Russian oligarchs had “the blood of Ukrainians on their hands”.
For the first time in the professional game’s history a top team was immediately barred from the transfer market, selling tickets and even earning cash from shirt sales.
Last night around 1,500 Chelsea fans arrived for the team’s Premier League match at Norwich — many in tears and embracing each other over grave concerns for the future of the West London club.
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Distraught Hadley Smith, 20, from Romford, East London, said: “It’s awful. I am shocked and upset. The fans will suffer and we don’t deserve this. I’m gutted.
“I fear the worst. I fear for the future. What if this is the end?”
Plumber John Davidson, 56, from Basildon, Essex, said: “I’m Chelsea until I die. I’m so worried. We’re fighting for survival.”
Chelsea fans chanted Abramovich’s name in the first few minutes of last night’s match which the Blues won 3-1. Norwich fans taunted them by responding: “You’re going bust, you’re going bust.”
Incredibly, the fears for Chelsea’s existence come just a month after the team won Fifa’s Club World Cup. It has also enjoyed two decades of astonishing success.
The tough sanctions mean Chelsea are banned from selling match tickets, barred from buying or selling and players, and stripped of money made from shirt sales or other merchandise.
The club is also stopped from spending broadcast cash or prize money and will be limited to a £500,000 per game spend on security, stewarding and catering.
Experts said the curbs could yet plunge the Premier League giants into administration.
Professor Ellis Cashmore, a sports and culture expert, said: “In sporting terms this is seismic. Chelsea probably has enough liquidity to make it through to the summer, and perhaps a bit beyond — but you can bet star players will be on the phone to their agents.
“The revenue streams are being compromised and the cash will eventually run out. This is not a conventional business, it’s been funded throughout by Abramovich.”
The oligarch, 55, was sanctioned by the UK Government as part of its response to Russia’s invasion of Ukraine. He was told the news by email at 9am, learning that the club he valued at £3billion and has been trying to sell quickly was, at a stroke, worthless to him.
Whitehall sources warned he would not get a penny from any fire sale, leaving the club in limbo.
Chelsea, with a £333million-a-year wage bill and around 1,000 staff, was granted a special licence until May 31 to carry on trading.
It made a loss of £145.6million last year and has been bankrolled by Abramovich to the tune of around £1.5billion since his sensational takeover in 2003. In another hammer blow, Chelsea will be limited to spending £20,000 travel expenses per match.
Their 28,000 season ticket holders will still be allowed to attend home games, but no new tickets can be sold — costing the club an estimated £600,000 per match.
Within hours of the sanctions, mobile phone network Three said it was suspending its £40million-a-year shirt sponsorship deal.
Car giant Hyundai said it was “assessing” its own multi-million shirt sleeve sponsorship contract. Abramovich was one of seven oligarchs hit by fresh curbs. The official sanctions listing accused him of getting “financial or other material benefit” from Russia and through his ties to close pal President Vladimir Putin.
Abramovich was also accused of “destabilising Ukraine” through his control of a firm “potentially supplying steel to the Russian military” for use in tanks.
PM Boris Johnson said: “There can be no safe havens for those who have supported Putin’s vicious assault on Ukraine.” Foreign Secretary Liz Truss said of the oligarchs: “With their close links to Putin they are complicit in his aggression. The blood of the Ukrainian people is on their hands.”
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The Chelsea Supporters Trust called for fans to be fully included in talks on the way forward.
It said: “The CST implores the Government to conduct a swift process to minimise the uncertainty over Chelsea’s future and for supporters to be given a golden share as part of a sale of the club.”
Fans’ shut shop woe
FANS visiting Stamford Bridge yesterday told of their anger and shock at sanctions.
One family paid £30,000 to fly to London and wept when they learned the megastore had shut.
Faris Abdullah, 20, and cousin Syahmi Anuar saved for months for the trip from Malaysia and missed the closure by minutes.
Faris said: “I’ve been waiting for this moment all my life. I’m in tears. We got to London last night and I couldn’t sleep with excitement. I have no idea what will happen to the club now. As fans, we’ve done nothing wrong.”
Syahmi added: “All my bedroom is decorated Chelsea. The plan was to take back some shirts for friends. This has ruined our visit.”
Before the store shut at 11am, Kim Boyd, 36, bought the last shirts for sons Jamie, seven, and Brody, six. Kim, visiting from South Africa, said: “We finished the transaction then security came. Customers behind us had to hand back their stuff.”
Martyn Hardiman, 29, from Guildford, Surrey, barely got a shirt for son Peter, two, and said: “The shop shut seconds later. It’s mad.”
Taxi driver Paul Richards, 44, added: “I’m not a season ticket holder so I can’t see any more games. I fear for the future.”
Chelsea have enjoyed two decades of astonishing success under AbramovichLast night around 1,500 Chelsea fans arrived for the team’s Premier League match at NorwichChelsea fans chanted Abramovich’s name in the first few minutesChelsea have been bankrolled by Abramovich to the tune of around £1.5billion since his takeover in 2003
